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Light Science Technologies Holdings plc
(LSE:LST)
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Rating:49Neutral
Price Target:
2.00 p
▲(12.36% Upside)
Action:Reiterated
Date:08/26/26
The score is held back primarily by inconsistent profitability and the FY2025 revenue decline, despite improved cash flow and reduced leverage. Technicals are only moderately supportive (short-term strength but still below the 200-day trend), while valuation lacks support due to the negative P/E. Corporate events provide a positive offset through financing, acquisitions, and new contract momentum, but overall risk remains elevated until earnings stabilize.
Positive Factors
Passive fire protection growth
The Injectaclad acquisition adds proprietary materials and installation capability, supporting a more vertically integrated, potentially higher-margin fire protection operation. Regulatory remediation demand and the reported pipeline could provide a durable route to larger contracts and recurring revenue.
Negative Factors
Revenue decline and renewed losses
The sharp FY2025 contraction and return to losses show that growth and margins remain unreliable. Until revenue recovery converts into sustained profitability, the company has limited earnings visibility and remains vulnerable to project timing, demand changes and execution setbacks.
Read all positive and negative factors
Positive Factors
Negative Factors
Passive fire protection growth
The Injectaclad acquisition adds proprietary materials and installation capability, supporting a more vertically integrated, potentially higher-margin fire protection operation. Regulatory remediation demand and the reported pipeline could provide a durable route to larger contracts and recurring revenue.
Read all positive factors
Light Science Technologies Holdings plc (LST) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£17.63M
Dividend YieldN/A
Average Volume (3M)5.84M
Price to Earnings (P/E)―
Beta (1Y)0.79
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees66
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding993,005,500
10 Day Avg. Volume6,339,190
30 Day Avg. Volume5,838,217
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)13.76
Price to Sales (P/S)1.82
P/FCF Ratio39.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)£11.70M
Light Science Technologies Holdings plc Business Overview & Revenue Model
Company Description
Light Science Technologies Holdings Plc (LSTH) offers expertise in the design, procurement, and assembly of custom electronics for various industries. A core area of their business involves developing and manufacturing advanced lighting and techno...
Light Science Technologies Holdings plc Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
46
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.30M | 8.63M | 12.04M | 9.30M | 8.17M | 7.39M |
| Gross Profit | 2.21M | 2.91M | 3.64M | 2.17M | 1.44M | 1.64M |
| EBITDA | -873.43K | -114.00K | 804.47K | -521.60K | -2.31M | -1.85M |
| Net Income | -1.22M | -979.00K | -46.72K | -953.16K | -2.50M | -2.17M |
Balance Sheet | ||||||
| Total Assets | 12.77M | 6.27M | 8.32M | 8.33M | 7.07M | 8.54M |
| Cash, Cash Equivalents and Short-Term Investments | 2.44M | 723.00K | 1.21M | 981.36K | 590.67K | 3.86M |
| Total Debt | 1.28M | 1.67M | 1.93M | 2.37M | 2.94M | 2.51M |
| Total Liabilities | 5.77M | 4.71M | 5.84M | 5.87M | 5.13M | 4.62M |
| Stockholders Equity | 7.00M | 1.14M | 2.08M | 2.10M | 1.59M | 3.59M |
Cash Flow | ||||||
| Free Cash Flow | -1.13M | 399.00K | 1.51M | -451.82K | -3.38M | -2.29M |
| Operating Cash Flow | -556.33K | 519.00K | 1.53M | 175.57K | -2.75M | -1.98M |
| Investing Cash Flow | -3.71M | -517.00K | -577.66K | -457.42K | -627.37K | -305.05K |
| Financing Cash Flow | 5.64M | -494.00K | -723.18K | 672.54K | 110.41K | 6.11M |
Light Science Technologies Holdings plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | £3.76B | 50.69 | 8.06% | 1.53% | 4.99% | -24.08% | |
66 Neutral | £329.82M | 81.69 | 3.33% | 0.81% | 12.73% | -26.74% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | £49.02M | 3.86 | 22.93% | ― | 136.76% | ― | |
61 Neutral | £270.18M | -7.56 | -24.38% | 3.68% | -2.68% | 47.33% | |
54 Neutral | £273.42M | 50.06 | 6.24% | 2.80% | 9.13% | -47.18% | |
49 Neutral | £17.63M | -5.55 | -29.91% | ― | ― | ― |
* Technology Sector Average
GB:LST
Light Science Technologies Holdings plc
1.70
-1.00
-37.04%
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4,105.00
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7.70
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49.81%
Light Science Technologies Holdings plc Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Light Science Technologies banks on acquisitions and backlog easing for stronger H2
Positive
Aug 13, 2026
Light Science Technologies Holdings reported a transitional first half to 31 May 2026 marked by a £6.6m fundraise and three strategic acquisitions that are reshaping its operations across passive fire protection, electronics manufacturing and...
Business Operations and StrategyFinancial Disclosures
Light Science Technologies Sets Interim Results Date and Investor Briefing
Positive
Aug 11, 2026
Light Science Technologies Holdings plc, listed on AIM as LST, operates in passive fire protection, agricultural technology and contract electronics manufacturing, supplying fire remediation solutions, controlled-environment farming systems and sp...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Light Science Technologies secures up to £1.66m in new fire protection work after Injectaclad acquisition
Positive
Jun 24, 2026
Light Science Technologies Holdings has reported strong early trading in its passive fire protection division following the April acquisition of Injectaclad owner RLUK Injection, securing two installation projects worth between £390,000 and &...
Business Operations and Strategy
Light Science Technologies Boosts Capacity with New UK Circuits Manufacturing Partnership
Positive
Jun 10, 2026
Light Science Technologies’ contract electronics arm, UK Circuits and Electronics Solutions, has agreed a new manufacturing partnership with a leading global workforce management and access control provider serving construction and infrastru...
Business Operations and StrategyExecutive/Board Changes
Light Science Technologies Resets Options and Plans New Long-Term Incentive Scheme
Positive
Jun 5, 2026
Light Science Technologies Holdings has revamped its share-based incentive schemes by surrendering options over 22,750,275 ordinary shares held by directors, senior management and employees and replacing them with 27,078,825 new options. The move ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.